Tom Lee is betting big on Ethereum: will the risk pay off?
Ethereum Tom Lee is betting big on Ethereum: will the risk pay off? Their strategy seems to be to accumulate ETH as much as possible, in the hope that sooner or later there will be a new bull run that will push the value of Ethereum much higher again. To be honest, they are not the only ones using a similar strategy, except that Bitmine is doing it by buying whale-sized quantities, while many others are doing it by buying much less. Will the risk pay off this bet? Tom Lees bet Since June of last year, Tom Lee has become the CEO of Bitmine. Bitmine has been a publicly traded company since way back in 1997, and in recent years it first turned into a Bitcoin miner, and then into one of the main Ethereum Treasury Companies. As of today, it is the largest publicly traded corporate holder of ETH. The strategy that Bitmine has been adopting since Tom Lee became its CEO is to accumulate millions of ETH, with the goal of owning 5% of the entire Ethereum supply. As of today, out of the 120 million existing ETH, Bitmine owns more than 5 million, or almost 4.5%. Their primary goal therefore is not far off. Their strategy